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Did The Workers In India Spinning Factory Go On Strike Again?

2011/5/23 15:34:00 82

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Because

Cotton yarn

Prices fell and inventories piled up, so the national spinning factory decided to take a strike in May 23rd. From May 24th, the factory plans to reduce the daily output by 1/3. They asked the government to take immediate measures to save the spinning industry and reconsider the current policy of cotton and cotton yarn. The president of the India Textile Industry Association (CITI) Shishir Jaipuria held a news conference in New Delhi.

Jaipuria said: "they have submitted their comprehensive comments to the Minister of textiles, the Minister of Commerce and senior officials of various parts, emphasizing the problems currently facing the industry.

They pointed out that short-sighted government policies and recent cotton and

Cotton yarn

In just a few weeks, the market has pformed the original spinning industry into a crisis prone industry.

The Association expects to review the industrial situation in the first week of June.

Jaipuria said that in addition to some other measures, the government needs to take some measures, such as restoring the export tax rebate of cotton yarn, abolish 10.30% of the consumption tax on clothing, offer 2% interest subsidy to all textiles and other clothing products, and extend the loan time of spinning mills for one year.

Cotton prices have fallen by more than 20% in the past month.

Yarn prices have fallen by more than 30%. In the past two and a half months, the price has dropped from 270 rupees / kg to about 195 rupees / kg.

He added that the export of cotton yarn also declined sharply, causing inventory buildup.

From January 15, 2011 to March 31, 2011, there was no export in two and a half months.

Cotton yarn

As of March 31, 2011, the number of cotton yarn that was not sold in the spinning mill was huge, much higher than the figures released by the textile Commission at the last cotton yarn Advisory Committee meeting.

He pointed out: "our understanding is that in the past five weeks, the export of cotton yarn is less than 50 million kilograms, compared with the export of 7000-7500 kilograms per month before limiting exports.

He said,

Spinning mill

Holding about 500 million kilograms of cotton yarn, which completely consumed their working capital.

He added that cash losses and insignificant working capital made it impossible for the spinning mills to purchase cotton, so the market price of cotton fell.

However, the decline in cotton prices does not mean that there are enough cotton sources in the market.